The global citrus flavors market stands at US$ 11.1 Billion as of now and is expected to reach US$ 18.4 Billion by the year 2032 at a CAGR of 4.9% between 2022 and 2032.
With clean label movement picking up, the preferences of consumers have changed drastically. They are now shelling out more money on foodstuff that provide value for money as well as higher nutritional value. Consumption of fruits has increased manifold in the last few years. So, when it comes to choosing flavored beverages providing a refreshing effect, the flavor mostly preferred by people is ‘citrus’.
Along these lines, premium citrus flavors that Frutarom Switzerland Ltd. produce include orange, tangerine, lime, lemon, grapefruit, and likewise. The application areas include confectioneries, dairy, beverages, and others.
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At the same time, increasing benevolence regarding the ill-effects of artificial flavor could restrain the market. For instance – Turpentine is used to produce artificial citrus flavors; which could result in health issues like irritation of eyes and skin. Future Market Insights has entailed these facts with insights in its latest market study entitled ‘Citrus Flavors Market’. They have their team of analysts and consultants for execution. Both – macros and micros are being worked upon.
Key Takeaways from Citrus Flavors Market
- North America holds the largest market share. It, in facts, accounts for more than 28% of the overall market revenue. This could be attributed to growing inclination toward citrus flavor products and citrus aromatherapy.
- In the Europe, Germany is leading from the front due to soft drinks abreast with citrus flavors being increasingly preferred. Herein, citrus flavor combos such as lemon and ginseng are well-known. Confectionery and candy feature mint sweet citrus flavors; whereas alcoholic beverages are embedded with citrus-infused beers with lemon and lime flavors, and – not to forget – zesty grapefruit flavors.
- The Asia-Pacific is expected to witness constructive disruption in the citrus flavors market, with China holding 75% of the revenue generated. The health and wellness market is seen getting drawn toward citrus-flavored goods. Conventional Chinese medicines have mentioned about the advantages. India stands second with more than 20% of the market share. E-Commerce platforms are helping with the choices.
- Coming to natural flavors, orange flavor is preferred, whereas amongst the artificial flavors, it’s lemon that is asked for.
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Competitive Landscape
- JPL Flavours, in June 2021, did announce the intentions of expanding its manufacturing facility stationed at Neston for catering to dairy, culinary, personal care, confectionery, and health and nutrition-related applications.
- Symrise, in June 2021, inaugurated its development, application, and sensory laboratories in Dubai for decoding, designing, and delivering high-class taste solutions to lead in the food & beverages sector.
- The Archer Daniels Midland Co., in March 2019, completed the acquisition of Ziegler Group, which comes across as one of the providers of natural citrus flavor ingredients. It is aa known fact that the latter makes use of proprietary cold concentration technologies for producing natural extracts, citrus oils, compounds, and concentrates for end-consumers in Europe, Japan, and the US.
- DASANI lemon water from The Coca-Cola Company is amongst the flavored water products.
- Albert Vieille SAS was acquired by Givaudan in 2019, so as to expand visibility all across the Europe.
“With preventive healthcare taking the center-stage, the global citrus flavors market is poised to witness an astonishing growth in the upcoming period”, says an analyst from Future Market Insights.
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What does the Report Cover?
- The research study is based on product type (lime, grapefruits, orange, lemon, and likewise), by nature (natural and artificial), by application (bakery products, confectionery, beverages, savory, and likewise), and by sales channel (supermarkets, departmental stores, and e-retailers).
- With growing awareness about the fact that citrus flavors are abreast with vitamin C, the global citrus flavors market is bound to grow graciously in the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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